How Your New Roof Improves Your Home’s Asking Price

Apr 11, 2017

How Your New Roof Improves Your Home’s Asking Price

According to most real estate agents, roofing replacements generally do not raise the price of a home. This, however, depends on the kind of improvement made from installing a new roof. While roofing projects of all kinds do improve a home’s curb appeal, they don’t all increase a home’s resale value. The reason real estate agents don’t admit to increased home value across the board? It’s to avoid being held accountable if things don’t go as planned. And they have a point!

A Word on Real Estate Agents’ Take on Roof Replacement

Most real estate agents qualify roofing jobs as an upgrade in a (strictly) maintenance sense. Nonetheless, they all agree that a damaged or worn out roof will reduce the home’s market price. And if that is the case, then the value should move in the opposite direction for houses with new and improved roofs.

Fixing or replacing an old roof will most definitely raise the asking price of your home to market or above-market levels. There’s no debate about that. The discrepancy between realtors and home improvement PR people is that improving a roof that’s already in ideal condition won’t make a difference and will most likely set you back thousands of dollars. And that’s what you should keep in mind if you’re thinking of such an upgrade. Replacing a new roof won’t increase your home’s asking price obviously, but replacing an old one that’s lost a lot of the qualities that made it functional and aesthetic will.

If you play your cards right, hire the right people, know the potential returns on your investment, and employ the right materials for the job, you could recoup close to 69 percent in resale value for your property.

Just remember! Make sure your investment is not too high that your home’s market value increases drastically above the rest of your neighborhood’s house prices.

The Benefits of Improving Your Roof

Readily Notable Curb Appeal – A tip for prospective new roof buyers! The more you make your home stand above the grain from the rest of the neighborhood, the more buyers you’re going to attract to see the interior of your home.

Increased Property Value – A home’s value is determined most of all by the location in which it resides. If your neighborhood’s market value is at a certain level, having a freshly installed attractive and practical roof will raise the price of your home as a unit. But be careful not to invest too much or you risk making your home too expensive for prospects, which will force you to level the asking price and lose out on your investment.

Better Insulation – The roofing material you decide to go with will drastically help in trapping heat in the winter after a fresh install. This is something you can boast about when you try to sell your home in the future. All materials share this trait of good insulation except for untreated clay shingles which don’t hold up well in excessively hot climates. If you like clay shingles above all, make sure it’s built to withstand deformation from sunlight.

Improved Energy Efficiency – Most roofing materials make your home better at cooling and heating itself by varying degrees. The most efficient for your home’s cooling and heating needs is wood or timber. It’s the third most affordable option after flat membrane roll-outs and asphalt shingles, and in our book, the most aesthetically beautiful. Wood can be treated to resist termite damage, mold formation, high moisture levels, and fires.   

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